Fab 2011 timeline

2011 TimelineWednesday, December 28, 11

What an incredible, rewarding, humbling, and well designed journey. Photo: Daniel Goodman / Business InsiderWednesday, December 28, 11

JANUARY We were like Gay Yelp 10 NY employeesWednesday, December 28, 11

FEBRUARY We were like Gay GrouponWednesday, December 28, 11

FEB 15 Realization: This isn’t working!Wednesday, December 28, 11

FEB 20 The RethinkWednesday, December 28, 11

THE PIVOT We don’t want to spend one more dollar, let alone $1M doing something we don’t have conﬁdence in. FEB 24 We’ve been iterating on product. Now we are pivoting to a business model. We’ve been doing too much. We will stop doing a lot of things, to focus on one thing. The Pivot Convinced that iterating away in the gay space isn’t going to get us to a $100M opportunity. Meanwhile, we we can see a $100M opportunity in front of us elsewhere. 3 criteria: (1) Passionate about it, (2) Can be the best in the world at it (3) Can be $100M+ business, The Pivot: From gay places+deals to doing one thing we can be the best at: DESIGN.Wednesday, December 28, 11

SUMMARY FEB 26 Fab.com management is preparing to relaunch fab.com as a private-sales site for design. The new fab.com will feature daily 70%-oﬀ private sales on well-designed products direct from manufacturers. This shift comes from maniacally paying attention to market feedback. We have uncovered this opportunity Board from our suppliers and our customers. Approval: We no longer believe we can do that in the gay male space while we believe Management is conﬁdent and enthusiastic about this new direction. We want to build a $100M+ business that disrupts a market and creates value. we have keen insight into how to do that in the design market. Restart the We can leverage our user-base and technology as we pivot, plus bring our unique social-media savvy to this business market. To support this move, Jason Goldberg will invest an additional $250,000 into new Fab.Wednesday, December 28, 11

fab.com the pivot FEB 26 Board Design Sales Our team’s passion + Customer Insights Approval: leads to Pivot Massive Pivot Gay Gay Groupon Gay FourSquare Gay Facebook YelpWednesday, December 28, 11

DIFFERENTIATION FEB 28 We will be all about good design. fab.com will be synonymous with good design. Other ﬂash-sale sites are all over the map with their product ranges. Superior user experience The New Foundation Super use of social. Social is in our DNA. Make it fun, witty, stuﬀ people get excited about and want to tell their friends about.Wednesday, December 28, 11

Big Vision: The Global Brand Synonymous with Design Amazon.com for DesignWednesday, December 28, 11

MAR 9 Coming Soon 4 NY employeesWednesday, December 28, 11

MAR 20 Begin Viral Mechanics Holy Crap! 50,000 people join in ﬁrst 30 daysWednesday, December 28, 11

April 15 Pre-Sales Social Features Launch: The Fab.com Inspiration Wall. Social Mood Board. Give users Something to do (and share!) while waiting for our sales to launch.Wednesday, December 28, 11

Pre-Launch Viral + Social = Rapid Growing Userbase June 8 165,000 Pre-Launch Subscribers 500,000+ people invited by friends Gained 165,438 opt-in subscribers in 80 days leading up to june 1, 2011) 50% viral from invite links 30% Inspiration Wall users Average subscriber has invited 3 friends, 1 of whom joined 330,000 additional emails of friends yet to convertWednesday, December 28, 11

June 9 Launch Day! Featuring Milton Glaser Ashton Kutcher Invests 15 NY employeesWednesday, December 28, 11

June 20 - Progress To-Date June 20 12 Days Revenue $600,000 revenue in 1st 12 days vs. $470k plan for month $150 average order $600k sales Cash ﬂow positive week 3 in 12 days 4k new subscribers / day, viral, 2% daily growth! Plan Actual Plan 215,000 subscribers Actual $1 per visit across all visits Cash Flow Positive .85% conversion rateWednesday, December 28, 11

June 30 The initial reviews are in, and, um, they like us!Wednesday, December 28, 11

July 26 350,000 Members $8M Series A Fundraise led by Menlo VenturesWednesday, December 28, 11

August Our mission: Make People Smile. We’re not in the design sales business, we’re in the design inspiration business. Inspire people and the sales will come.Wednesday, December 28, 11

August 500,000 Members Inspiration Wall V2: More Social FeaturesWednesday, December 28, 11

Photo: Daniel Goodman / Business Insider September 16 new sales events per day, 2000+ new SKU’s per day 55 Team Members WorldideWednesday, December 28, 11

Sept. 15 Fab & Fast Company team up to launch U.S. Design Pop-Up ShopWednesday, December 28, 11

Oct. 11 Fab goes mobile: iPhone, iPad, & AndroidWednesday, December 28, 11

October: Service Matters More Than Sales. Sales go up and down. Service lasts forever. Commitment to invest millions to get this rightWednesday, December 28, 11

Oct. 28 Beth joins as COO, Dave as CFOWednesday, December 28, 11

October Orders & Revenue Continue to GrowWednesday, December 28, 11

Nov. 1 Entrepreneur Magazine We’re not worthy!Wednesday, December 28, 11

Nov. 14 1 Million Members in just 5 months since launch.Wednesday, December 28, 11

Nov. Holiday Shop Orders SkyrocketWednesday, December 28, 11

Dec. 2 Building A Different Kind of CompanyWednesday, December 28, 11

Dec. 7 Fab.com Raises $40M Series BWednesday, December 28, 11

Dec. 15 Live FeedWednesday, December 28, 11

Growth Dec. 27 ContinuesWednesday, December 28, 11

Dec. 28 We like to rock 140 Team Members Worldide Photo: Daniel Goodman / Business InsiderWednesday, December 28, 11

Wednesday, December 28, 11

And, we’re just getting started... Photo: Daniel Goodman / Business InsiderWednesday, December 28, 11

Thank You. Thank You. Thank You. To our customers, employees, designers, partners, investors, and friends.Wednesday, December 28, 11

Smile, you’re designed to.Wednesday, December 28, 11

http://betashop.com	24003
http://www.ideaxidea.com	20309
http://www.excitingcommerce.de	9859
http://techcrunch.com	5741
http://ismaildagli.com	1762
http://excitingcommerce.de	1589
http://ecommerce.typepad.com	1516
http://joeandsometimesy.com	1420
http://janinagavankar.com	984
http://www.scoop.it	973
http://www.stephpalmeri.com	814
http://www.ig.gmodules.com	621
http://neoecommerce.gr	527
http://www.vadidekireyhan.com	527
http://mitsurutajima.com	516
http://pennykim.com	406
http://a0.twimg.com	347
http://curiositycounts.com	337
http://feeds.feedburner.com	334
http://www.adelebarlow.com	318
http://stephmantis.tumblr.com	318
http://blog.maximopotencial.com	294
http://melissashin.tumblr.com	264
http://cloudcastlegroup.com	216
http://shobhitchugh.blogspot.com	206
http://selfmadehuman.com	153
http://romaingoday.com	152
http://come2myhead.tumblr.com	127
http://pitchlust.com	123
http://sulemanali.com	123
http://wondershake.tumblr.com	110
http://lukehristou.com	107
http://akp-blog.com	96
http://us-w1.rockmelt.com	88
http://byderekj.tumblr.com	88
http://www.newsblur.com	76
http://tweetedtimes.com	73
http://corenzan.tumblr.com	57
http://bytecurry.tumblr.com	56
http://www.yoshinotakayuki.com	51
http://whatjewsay.tumblr.com	49
http://arpanpunyani.tumblr.com	49
http://matbios.tumblr.com	47
http://cloudstar.de	46
http://ogaguse.tumblr.com	43
http://shobhitchugh.blogspot.de	42
http://www.twylah.com	42
http://ype.tumblr.com	42
http://rascasse.com	39
http://bosch-mum-4650.tumblr.com	36
http://aeg-cafamosa-cf-400.tumblr.com	36

Fab 2011 timeline

by Jason Goldberg on Dec 28, 2011

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